ResalesCondos Grow More Popular In Fort Lauderdale, Say Realtors
While demand for all kinds of housing is on the increase, condominium-style homes are more popular than ever in Fort Lauderdale, say local Realtors.
"The variety of housing ranges from lower-priced condominiums in retirement communities to luxury ocean front homes and condominiums," say Realtors Sandy and Cliff Steffen. "Demand across the board in all price ranges continues to be strong. Both supply and demand are increasing. We are finally seeing demand increase in the upper price ranges ($400,000+), but there is still a much larger supply than normal."
"The demand for condominiums and townhouses is increasing as is the supply," say the Steffens. "Higher priced sales are improving slightly, however, the supply is so great that it will take years to work through the current inventory without an increase in demand.
Says Realtor Karen Dove, "April is just around the corner and spring has sprung! Fort Lauderdale has many new luxury beachside construction projects going up and re-sales of existing homes, condos remain strong. New construction west of Interstate I95 & the Turnpike offers alternative housing choices, in most price ranges."
She advises, "With interest rates low, the market remains active for all property types. Over 51 percent of properly priced homes and condos sell within 30 days, but the new listings come on the market daily allowing for good choices for buyers ready to take the plunge. Our warm sunny days and cool nights, ocean breezes in the Palm trees and access to fishing, the night life, arts and fabulous shopping and dining make South Florida a great place to live the lifestyle you choose from all we have to offer.
"Even with the war on overseas, condo, townhome/villa and single family sales remain brisk, average selling prices are still up," says Dove. "Retirees, vacation home buyers & people who love warm weather, the sea are still flocking in droves to our beaches, golf & and tennis clubs. The coastal areas draw people from all walks of life and with a wide choice of amenities available, you can see why. Low interest rates are still a big contributor to our active market, as well as an influx of new business and a low unemployment rate here in Sout Florida all make for a stable and attractive environment. If you"re looking for a smaller town atmosphere and big city conveniences, the greater Fort Lauderdale area may be the place for you to call home!"
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